The Westin Beach Resort & Spa at Frenchman's Reef in St. Thomas.
The Caribbean's most esteemed hospitality conference is coming to the U.S. Virgin Islands. The territory has been chosen as the host location for the 2023 Caribbean Hotel Investment Conference & Operations Summit (CHICOS), scheduled for November 12-14. The event will be held at the newly rebuilt Westin Beach Resort & Spa at Frenchman's Reef in St. Thomas and is expected to convene over 300 regional and international participants.
CHICOS: A Platform for Investment and Networking
For years, CHICOS has stood as the leading hospitality conference in the Caribbean, attracting a wide array of attendees from governmental representatives and tourism officials to developers, bankers, and hotel brand executives. The conference aims to provide a networking platform for industry stakeholders to share insights and discuss emerging trends affecting investment in the Caribbean's vibrant hospitality sector.
This year's event will feature panels with leaders from major international hotel brands, key industry stakeholders, and investment firms with a reach across the Caribbean. The discussions are designed to offer attendees a comprehensive view of the investment landscape in the region.
A Warm Welcome from the U.S. Virgin Islands
V.I. Dept. of Tourism Commissioner Joseph Boschulte conveyed his excitement about hosting the event. "We are honored to welcome CHICOS to our amazing islands. The conference presents an incredible opportunity to explore untapped potential and abundant investment possibilities in the thriving Caribbean hospitality industry," he said.
With its unique blend of natural beauty, rich cultural heritage, and a business-friendly environment, the U.S. Virgin Islands stands as an attractive destination for hoteliers and investors alike. The territory has seen an exponential growth in tourism, especially during the Covid-19 pandemic, and has recorded a 15 percent increase in visitor arrivals from the US during the winter of 2022/2023.
The USVI has shattered previous records in its sharing economy accommodations, marking a 10.4% increase in revenue. Its hotel occupancy rate stands at 75.2%, exceeding the regional average by 2 percent.
The conference venue, the newly opened Westin Beach Resort & Spa at Frenchman's Reef, underwent a remarkable $425 million rebuild and encapsulates the sophistication and service associated with the Westin brand, tinged with a distinctive U.S. Virgin Islands charm.
For more details about the U.S. Virgin Islands and what it offers, visit the official tourism website here. To learn more about the Caribbean Hotel Investment Conference & Operations Summit, kindly visit the CHICOS website here.
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